Sandbanks in Poole is Britain’s most expensive seaside town for the third year running, according to Halifax’s latest research.
Although a home there will set you back an average £626,553, both Sandbanks (pictured), and the second most expensive seaside town, Salcombe in South Devon, are the only seaside towns in the top 10 to have seen a dip in house prices over the last year by an average £37,494 and £52,702 respectively.
The second and third spots remain unchanged on last year with average prices in Salcombe of £577,591 followed by Aldeburgh in Suffolk (£535,872).
While Sandbanks jointly tops the table with Lymington in Hampshire and East Wittering in Sussex for most hours of sunshine a week in the top 10 most expensive seaside towns with a 33 hours, it drops to fifth place in terms of happiness. Aldeburgh tops the happiness table, closely followed by East Wittering and Budleigh Salterton in Devon.
Russell Galley, the Halifax’s managing director, said: “It’s no surprise that the South coast continues to be home to the most expensive seaside towns in the country, including those with the greatest growth in house prices over the last 10 years.
“What we can see though is that the two most desirable locations have in fact seen prices drop over the last year. This fall is likely to have been impacted by the higher costs of stamp duty for these more expensive homes.
“Having a postcard view can be a dream that comes with a hefty price tag attached, but while more sun is undoubtedly appealing, it doesn’t appear to guarantee happy homeowners. Seaside house hunters may be more tempted by Newbiggin by the Sea in Northumberland, where average prices stand below £95,000 and offer a higher happiness rating than nine out of 10 of the most expensive towns.”
Since 2008 the average house price in Britain’s seaside towns has risen by 21%, from an average £193,859 in 2008 to 234,654 in 2018.This equates to an average increase of over £4,000 a year.
The vast majority of the top 20 seaside towns with the biggest house price growth over the last 10 years are in the South East. Average house prices in Burnham on Crouch in Essex (£330,684) and Whitstable in Kent (£368,563) have both increased by 57% since 2008. Joining them in the top three is Aldeburgh (56%).
The only other seaside towns in the top 20 outside the South East are Lerwick, in Shetland (45%), Campbeltown in Argyll and Bute (39%) and Cromer, in Norfolk (36%).
Of the 10 least expensive seaside towns, nine are in Scotland with Millport, on the island of Great Cumbrae in the Firth of Clyde, leading the least expensive list with an average price of £81,233. (See Table 3)
This is followed by Girvan in South Ayrshire (£91,459) and Saltcoats in North Ayrshire (£92,891).
England’s least expensive seaside town is Newbiggin by the Sea in Northumberland, with an average house price of £94,385.
While seven seaside towns have an average house price below £100,000, and the hours of sunshine for the 10 least expensive seaside towns range from 26 to 21 hours a week, their residents scored well in the happiness stakes – better than those living in some of the most expensive locations.
Those in Newbiggin by the Sea were happiest, scoring 8.1 out of 10, followed by Wick in Caithness, Port Bannatyne on the Isle of Bute, and Dunoon in Argyll and Bute, with 7.8.